“Our equity-funded position enables us to take a pragmatic approach to risk, particularly when working with experienced borrowers with whom we have established relationships.”
– Mike Allen, business development manager (BDM) for London & the East of England at Aspen Bridging
Aspen Bridging has completed an urgent £1,575k no valuation bridge for a repeat borrower’s latest investment acquisition in Barnet, North London.
The five-bedroom detached house, situated on a sizeable plot, became available to purchase at short notice, but had to be completed as soon as possible due to other interested parties.
With its one-person-per-case customer service philosophy, the deal was taken from start-to-finish by Sinead McMurray, credit manager at Aspen Bridging, who used the lender’s in-house surveyors to provide a post valuation offer within two days.
The 75% LTV deal was completed on Aspen’s stepped rate on an initial of 0.49% per month over a ten-month term.
Exit will be achieved once a buy-to-let (BTL) product has been sourced, with the borrower adding the house to their investment portfolio.
“Our equity-funded position enables us to take a pragmatic approach to risk, particularly when working with experienced borrowers with whom we have established relationships.
“This approach allows us to streamline applications focus on the issues that truly matter and complete transactions with exceptional speed. In this instance, the case was textbook bridging as a quick, clean, and effective financial solution,” said Mike Allen, business development manager (BDM) for London & the East of England at Aspen Bridging.
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